Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $14.14 Million Stake in Corning Incorporated $GLW

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lowered its position in Corning Incorporated (NYSE:GLW - Free Report) by 22.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,000 shares of the electronics maker's stock after selling 29,676 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Corning were worth $14,141,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GLW. Merit Financial Group LLC grew its stake in shares of Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock valued at $3,940,000 after purchasing an additional 6,493 shares during the last quarter. Security National Bank raised its position in Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker's stock worth $6,350,000 after purchasing an additional 56,056 shares during the last quarter. Three Seasons Wealth LLC acquired a new position in Corning during the 4th quarter worth $1,750,000. RiverFront Investment Group LLC lifted its holdings in Corning by 65.4% during the 4th quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker's stock worth $1,289,000 after buying an additional 5,818 shares in the last quarter. Finally, North Dakota State Investment Board bought a new position in Corning in the 4th quarter valued at $2,345,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Corning

In related news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares of the company's stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Z. Zhang sold 10,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares of the company's stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GLW. Barclays boosted their target price on Corning from $149.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. UBS Group set a $243.00 price target on Corning in a report on Monday, July 6th. JPMorgan Chase & Co. lifted their price objective on Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Oppenheimer boosted their price objective on Corning from $210.00 to $230.00 and gave the stock an "outperform" rating in a report on Tuesday, July 7th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Corning in a research report on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Corning presently has a consensus rating of "Moderate Buy" and an average target price of $194.69.

Corning Stock Performance

GLW stock opened at $183.14 on Tuesday. The business's fifty day moving average is $193.56 and its 200-day moving average is $151.06. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company has a market cap of $157.62 billion, a P/E ratio of 87.63, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. Corning Incorporated has a twelve month low of $51.32 and a twelve month high of $271.78.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm's revenue was up 18.1% on a year-over-year basis. During the same period last year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning's dividend payout ratio (DPR) is 53.59%.

Corning Company Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.

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